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Mexico Completes US$2.192 Bln Bond Swap,1st Including Century

MEXICO CITY (MNI) - The government completed a foreign debt swap
Friday totaling US$2.192 billion, in the first to include the century
bond, the Finance Secretariat announced.

The global bond swap extended the average maturity of the debt
profile by "more than two years" and reduced financing costs, the
statement said, noting the goal also was to improve liquidity of
reference bonds, and remove those will shorter terms or lower liquidity.

In addition, the yields and spreads over U.S. Treasuries of the 10,
30 and 100 year bonds were the lowest levels ever achieved for those
maturities, the ministry said. The yields were 2.52%, 3.93% and 4.67%
respectively, with spreads of 87, 118 and 192.